via PrefixMag.

Rumors about Google’s music service have circulated for a while, and now Billboard has the scoop on what exactly we can expect. According to a report by Ed Christman, both a digital download service and a cloud based offering are in the works, making it a very viable competitor to the ubiquitous iTunes store.

Apparently Google has mooted a $25 flat yearly fee for allowing users to store their music online and access it from anywhere, which seems incredible cheap. Clearly, they don’t know just how many MP3 files rabid collectors have amassed over the years. People who purchase music directly from Google will also have the option to store their wares directly in the cloud (or “locker,” as Google seem to be calling it).

Naturally, some social networking features would be involved, because apparently we can never have enough of those, but this is all conjecture at present as Google is still in negotiations with major record labels. But, for an initial proposal, which may well change before it becomes a reality, this looks very impressive so far.